Abstract Despite their geographical proximity, common history, and joint experience with social segmentation, there is a surprising dearth of studies systematically comparing consociationalism in Belgium and the Netherlands. This paper aims to help fill that lacuna by discussing the similarities and differences between the two countries in this respect. The similarities range from the time period of consociationalism, the original cleavage structure, to the existence of cross‐pressures at the organizational level. The most important difference is that geography always played a bigger role in Belgium. This was true even before the politicization of the language divide, but it also explains why Belgium entered a new phase of consociationalism after depillarization and the Netherlands did not. Both countries currently face challenges by anti‐establishment parties against the elite cartel, which raises questions whether this is not inherent to consociationalism once the original social segmentation has eroded.